Bill to ban college prop bets introduced in Congress
As the proposed SAFE Bet Act garners significant attention in discussions concerning federal regulation of sports betting, another critical piece of legislation has emerged, aiming to specifically target prop bets involving college athletes.
On February 25, the “Providing Responsible Oversight and Transparency and Ensuring Collegiate Trust for Student Athletes Act” — commonly referred to as the PROTECT Act — was introduced by first-term Congressman Michael Baumgartner from Washington. Notably, Baumgartner serves as the chair of the college sports caucus, positioning him uniquely in this dialogue.
“The surge in sports gambling on college campuses in recent years demands our attention,” Baumgartner stated in a press release. “Student athletes invest immense effort into both their sports and education, and it is imperative to safeguard their integrity, both on and off the field.”
While the PROTECT Act does not seek to prohibit betting on college sports events, it specifically targets wagers related to the individual performances of student athletes. This legislation responds to an alarming trend of harassment aimed at college athletes and reports of coercion leading to game-fixing for monetary gain.
In contrast, the SAFE Bet Act, sponsored by Democrat representatives Paul Tonko of New York and Richard Blumenthal of Connecticut, seeks a more sweeping ban on all prop betting (among other provisions). Baumgartner’s bill narrows its focus solely to collegiate sports, addressing concerns pertinent to student athletes without extending to professional leagues.
The bill proposes that the Federal Trade Commission (FTC) enforce these regulations, categorizing violations as unfair business practices. By doing so, the PROTECT Act aims not only to protect college athletes from harassment but also to maintain the integrity of college sports, presenting a more targeted approach compared to the broad strokes of the SAFE Bet Act.
Analyzing the Landscape
The introduction of the PROTECT Act arrives amidst heightened scrutiny and conversation regarding the intersection of college athletics and gambling practices.
Importantly, with the kickoff of March Madness on the horizon, Robinhood has collaborated with Kalshi to launch a dedicated exchange for the NCAA tournament. This innovation will enable individuals across all 50 states to engage with prediction markets, further highlighting the increasing convergence of sports and betting.
For in-depth coverage on this evolving landscape, you can read the full story here.
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